Radian Group Expands Share Repurchase Program to $900 Million


WAYNE, PARadian Group Inc. (NYSE: RDN) has announced that its Board of Directors recently approved a significant expansion of its share repurchase program. The program’s authorization has increased from $300 million to $900 million and has been extended until June 30, 2026.

This expanded authorization provides Radian with the flexibility to buy back an additional $600 million worth of shares. The company can execute these repurchases based on market conditions, stock price, and other factors. Transactions can occur through privately negotiated deals, open market purchases, or trading plans under Rule 10b5-1 of the Securities Exchange Act.

As of March 31, 2024, Radian has repurchased approximately 7 million shares for a total cost of $183 million. The previous repurchase program was set to expire on January 31, 2025.

Chief Executive Officer Rick Thornberry expressed his satisfaction with the decision. “We are pleased that our strong financial position and capital flexibility allow us to support our growth initiatives, deliver innovative products, and provide best-in-class service to our customers, while also opportunistically returning value to our stockholders,” Thornberry said.

In addition to the expanded repurchase program, Radian’s Board of Directors has approved a regular quarterly dividend of $0.245 per share. This dividend will be payable on June 20, 2024, to stockholders recorded as of June 4, 2024.

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